Rupert Murdoch wants to combine News Corp. and Fox Corp., re-creating the conservative-leaning media goliath that he split apart nine years ago. The move would likely consolidate power in the hands of his son Lachlan, currently the chief executive officer of Fox.
So far none of the Murdoch clan, which includes Rupert’s six children, have spoken publicly about the deal, which the companies acknowledged was in the works on Friday. Rupert’s son James Murdoch, a former executive at the family media empire, resigned from the News Corp. board in 2020, citing disagreements over news judgment and strategy.
The proposed recombination would reunite the parent of Fox News with that of the Wall Street Journal and the New York Post, saving the Murdochs money by not having to run two separate companies. It also would allow the bigger entity to more easily promote new businesses, such as sports betting, across multiple media outlets, according to people familiar with Rupert and Lachlan’s thinking.
